Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1887-05-06

sion as it goes along. In the debate that
followed this. Speaker Stuart, who ia also
presiding officer of the commission, said
that body believed 'thaJ it is utterly i'm
possible for them to act in this matter if
their room is liable to be entered and their
proceedings liable to be heard hour by
hour, possibly to be distorted and that
members of the commission "by reporting
to THE House from day to day, would but
make the debt question political football
in the stock markets." Mr.. Cardwell
(Denl) of Hanover, thought there was
much merit in MIR. Fulkerson's resolution.
Mr.. Figgatt (Dem.) of Botetourt, who is
also member of the commission. shared
| Speaker Stuart's views of the matter
Mr.. Waddill (Rep.l offered resolution
| that the commission be opened to the
press, which was defeated. Mr.. Fulker-
son IS resolution was then defeated, Ayes
| 26, Noes AZ. The remarks of DR.. Wise
| that as far as the Republican party is con-
cerned it's share in the debt settlement, If
any is arrived at, consists up to this time
of demagogic appeals directed against
the Democratic party. The foreign
members of the commission are in
the House and Senate daily, listening to
| these debates.
THE CREDENTIALS OF THE FOREIGN
| MEMBERS OF THE COMMISSION.
| The following are the credentials of the
| MOI hor Of Commission
communicated by the Governor to the leg
islature, Monday. 1t will be noticed that
the document is silent On the impor-
tant pois5 of how many bondholders~ the
Foreign Commissioners represent:
| COUNCIL FOREIGN BoNDHoLDERs,
| II MoRGATE STREET,
| LONDON E. c., April IA, 1887
Sir.-I beg to present to your Excellency
| the Right Honorable Sir Edward Thornton,
| G. G. g., and Mr.. S. N. Braithwaite, who are
| empowered and instructed by the Council of
! Foreign Bondholders to meet the Commission
appointed by the Legislature of Virginia to
consider the question of the public debt of
the State, and if possible to arrive at joint
| conclusion with that Commission as to the
available means of the State to provide for
the interest of that debt and further to en-
deavor to come to some arrangement respect
| ing the future of that debt, which can be sub
mitted for approval on the one hand to the
| Legislature. and on the other to the bond
| holders here.
i feel sure that every facility will be given
! to these gentlemen by your Excellency to as
| sist them in the performance of the duty they
have undertaken. 1t is my profound persua-
| sion that it must be fully as much for the best
| interest of Virginia as it is for that of the
| bondholders that this question should be final
| ly settled. The prosperity of Virginia re-
| quires that it should as there is no chance
for the development of the great resources OF
| the State, or for the revival and increase of
her trade and of the rewards of industry to
| her population, unless the credit of the State
is re-established. The non-payment of the
| debt and the persistent efforts heretofore made
| to avoid the obligations of the State formally
and constitutionally incurred to its public
creditors, are a fatal bar to any such devel-
opment, and I trust your Excellency's admin
| istration may be signalised by the removal of
| this barrier, as I feel confident that this re-
moval would prove the starting point of COM
Enercial and industrial progress,
hay e the honor to be, sir,
/ Your Excellency's
most faithful servant,
E. P. BoUvERIE
| Chairman.
HIS Bacezzeracy Gen. Fitzl4gA Lee, Governor